Caterpillar Inc. (CAT) released its February sales report, registering another strong month in terms of sale of its mining and construction equipment. The sales in the reported month increased by 59% across the globe compared with a 20% decrease during the same period last year.

Region-wise, the company reported a whopping increase of 76% in Latin America, where sales improved remarkably after declining 20% in the year-earlier period. As for the rest of the world, segment sales improved 60% after declining 15% during the last year.

Asia-Pacific stood in the third position, reporting an increase of 57% over last year’s decline of 2%. The North American region was not far behind with an increase of 55% compared with a decline of 30% in sales during the prior-year. Though EAME (Europe, Africa and the Middle East) came last, the sales grew at an astonishing rate of 53% over last year’s decline of 22% in February sales.

In stark contrast to last year’s decline in sales across all regions, the company reported a more-than-substantial increase in the current year sales across all regions.

The company also reported its turbine engine sales for the month of February, registering a 31% increase globally compared with a 33% decline in the prior-year period.

Petroleum sales reported the maximum increase of 59% compared with a 47% decline in the year-earlier period. Following the petroleum sales was the industrial segment with sales up 54% in February versus a decline of 15% in the prior-year period. Electric Power occupied the third position with sales up 23% compared with a 26% decrease during the last year. However, in the marine segment sales further declined 36% after plummeting 26% in the year-earlier period.

Engine sales improved, but were not in line with machinery sales.

Peoria, Illinois-based Caterpillar Inc. is the manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. The company is one of the few leading U.S. companies in an industry that competes globally from a principally domestic manufacturing base. Caterpillar operates three divisions – Machines, Engines and Financial Products. Caterpillar competes with the likes of CNH Global NV (CNH), Komatsu Ltd. and Volvo AB.
 
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